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Banks strike today

Banks strike today

No work is likely to be transacted at as many as 5,000 bank branches across Telangana and Andhra Pradesh on Tuesday with public sector and old generation private and regional rural banks employees set to go on a day’s strike.

Over 80,000 bank employees in the two States will be participating in the nationwide strike, said VVSR Sarma, Convenor (Telangana and Andhra Pradesh) of the United Forum of Bank Unions. An umbrella body, the Forum comprises five workmen unions and four officers associations. The new generation private sector banks and ATMs of all banks, however, are expected to function as usual. The strike is against what the bank unions term as “anti-people banking reforms”, write off of corporate non-performing assets and increase in bank charges.

It is in support of the demand for stringent measures for recovery of bad loans, withdrawal of proposed FRDI (Financial Resolution and Deposit Insurance) Bill, abolition of Banks Board Bureau, adequate recruitment in all cadres and resolution of issues relating to employees, Mr.Sarma said.

This would be second strike this year by the UFBU, with the Forum holding a similar protest, impacting routine banking operations, in February. Several public sector banks anticipate normal functioning of their branches and offices to be affected, if the strike materialises, on Tuesday as evident from their intimation to the stock exchanges.

A few banks said they are taking “all the necessary steps in terms of the existing guidelines for smooth functioning” of the branches/offices.

 

Source: The Hindu

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